If You Can Prevent Someone from Consuming a Good,that Good

question 38

Multiple Choice

If you can prevent someone from consuming a good,that good is called

• A) rival.
• B) nonrival.
• C) excludable.
• D) nonexcludable.
• E) a public good.

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Definitions:

Salaries And Wages Payable

A liability account that represents the amounts owed to employees for work performed but not yet paid.

Medical Insurance Deductions

Amounts subtracted from an employee's gross pay for health insurance premiums, often part of an employer-sponsored health plan.

Federal Unemployment Taxes

Taxes imposed on employers to fund unemployment benefits, administered at the federal level.

Payroll Tax Expense

Taxes that an employer is responsible for paying on behalf of its employees, which can include federal and state income taxes, Social Security, and Medicare taxes.